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Try this Proven System to Help Manage Your Business Better

Try this Proven System to Help Manage Your Business Better

Editor's Special Note: Today's post is sponsored by Appraisal360.   360 degree feedback, appraisal, feedback, performance

 

Organizations are faced with an increasingly competitive climate. To help manage business better, many organizations are looking for ways to make sure their training and people development budget offers measurable ‘bottom line’ results.

A proven system, 360˚ feedback, offers businesses just that with a process that delivers targeted and measurable learning and development solutions. Through the feedback process, an employee receives feedback based on performance from co-workers who know them well enough to comment on skills and behaviors.

Colleagues complete a feedback questionnaire appropriate to the function of their job. This can be easily implemented with an online system like Appraisal360. With this system, approximately 10 respondents offer feedback by answering the same set of questions, usually by implementing a scoring system. This is an excellent way to measure behavior, interpersonal skills, and role-specific functions.

The information gathered through this process is then compiled into a report that organizes feedback for each competency area. Reports deliver a clear and easy-to-understand compilation for employees, but a more effective approach is to provide a facilitated feedback session. Such a meeting provides an opportunity for a coach, consultant or learning and development specialist trained in 360˚ feedback to really enhance the process.

360˚ feedback increases an individual's understanding of how others perceive their job performance and helps them to identify their strengths as well as areas where small enhancements can make positive differences. A properly facilitated feedback meeting gives the individual an opportunity to work through the provided feedback and to come up with an action plan for their development. This plan should identify:

  • Necessary actions or changes
  • Potential timeline for when changes will be in place
  • List of resources needed to carry out the plan

For the organization, effective feedback adds an additional benefit by identifying team strengths and development needs. It shines a light on those who are high flyers and also makes it clear which individuals may need extra support. Equipped with this information, organizations can target development budgets to areas where they will have greatest impact.

Evidence also intimates that organizations that use 360˚ feedback also benefit from fewer absences due to sickness, a boost in staff morale, and better staff retention, which is an added tangible bottom line benefit. For the process to deliver the best results for both the worker and the organization, most organizations will need the support of an experienced feedback specialist.

To warrant the best probabilities for success with 360° feedback as a ‘turnkey’ model, Appraisal360 has identified the 10 keys to a successful 360° feedback business.

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